Post by Trade facilitator on Dec 30, 2021 12:00:42 GMT 1
Central Bank Of Nigeria’s (CBN’s) TIES: Bridging The Financing Gaps To Business Ideas – What Are The Realities?
For quite some time now the buzz had been about the Central Bank of Nigeria’s Tertiary Institutions Entrepreneurship Scheme (TIES).
According to the CBN and other relevant government officials and agencies, the scheme is meant to stem the tide of graduates chasing white-collar jobs. It was established to encourage the spirit of entrepreneurship in young graduates and undergraduates, to address unemployment and underemployment as well as lack of enthusiasm by graduates to starting up a business either while in school or shortly after.
This is completely a laudable objective from the perspective of the Federal Government through the Central Bank of Nigeria (CBN), but there is one thing we are going to look at in depth; and that is, who are the people setting up the practical aspects of the programme?
According to the Central Bank Governor, Godwin Emefiele, he said “The scheme is developed in partnership with Nigerian polytechnics and universities to harness the potential of graduate entrepreneurs by creating a paradigm shift from the pursuit of white-collar jobs to a culture of entrepreneurship for economic development and job creation.”
The statement says that the Central Bank of Nigeria is collaborating with some tertiary institutions (are they Nigerian tertiary institutions or those abroad?) to develop entrepreneurship programmes, and to support – through provision of access to finance – graduates and undergraduates with bankable ideas.
How is this whole thing going to be managed so that it does not turn out to be like most projects in Nigeria started with fanfare and goes to sleep after a few months? The CBN and other organizers must understand that these young graduates and undergraduates are not going to do their business outside the shores of this country. Have they taken into consideration the extremely hostile business environment in the country?
The reason for this assertion is what the CBN Governor, Godwin Emefiele said, “With about 600,000 students graduating yearly from Nigerian tertiary institutions, and without commensurate employment opportunities in both private and public sectors, it has become imperative that governments, at all levels, put in place policy measures to support entrepreneurial development among youths.”
Which institutions or corporate organizations in Nigeria had undertaken the training of youths whether graduates or undergraduates in practical entrepreneurships?
Starting a real business that will succeed and bring in profits to pay the interest on the loan and at the same time provide funds that will enable the borrower payback the loan is going to take more than classroom entrepreneurship training.
From what the Governor of the CBN said that “As a first step, CBN wants the authorities of these institutions to provide land from their large estate. By providing lands for students to test their entrepreneurial desires before graduation, CBN noted, the institutions will help the graduates hone up their entrepreneurship spirit.”
My question is; who sponsors the period of testing and honing up skills by the students when they were still in school? How many of their lecturers have real-life business experiences that can be parted into the students?
Let us take for example, some students decide to go into poultry business probably due to past experience from their homes or from interest of what they read from books or watched from videos; who bears the cost of the training?
Will the poultry farms be established in their campuses or are they going to be attached to existing poultry farms in their vicinity to enable them learn the trade properly.
Let it be understood that for anybody no matter whom you are, for you to be able to pay the interest on the loan you have taken from financial institutions, you must do the business profitably. Without making consistent profit you cannot repay the loan.
I believe the first step the CBN is supposed to take is to offer graduates the opportunity to go and understudy experts who have mastered their crafts in various trades and businesses in order to gain the invaluable practical experience. These can be well established businesses and corporations who have made their marks in those trades.
The government should set up monitoring units in all the local government areas to oversee the activities of the young businessmen and women, encourage them and help them solve some teething problems.
Problems facing business people in Nigeria are multifaceted and they are not going to spare the young men and women.
Our company is one of the best companies in agro export businesses in Nigeria, we train individuals and corporate organization on how to do export business in the right way; if you are interested, please contact the admin of this forum.
For quite some time now the buzz had been about the Central Bank of Nigeria’s Tertiary Institutions Entrepreneurship Scheme (TIES).
According to the CBN and other relevant government officials and agencies, the scheme is meant to stem the tide of graduates chasing white-collar jobs. It was established to encourage the spirit of entrepreneurship in young graduates and undergraduates, to address unemployment and underemployment as well as lack of enthusiasm by graduates to starting up a business either while in school or shortly after.
This is completely a laudable objective from the perspective of the Federal Government through the Central Bank of Nigeria (CBN), but there is one thing we are going to look at in depth; and that is, who are the people setting up the practical aspects of the programme?
According to the Central Bank Governor, Godwin Emefiele, he said “The scheme is developed in partnership with Nigerian polytechnics and universities to harness the potential of graduate entrepreneurs by creating a paradigm shift from the pursuit of white-collar jobs to a culture of entrepreneurship for economic development and job creation.”
The statement says that the Central Bank of Nigeria is collaborating with some tertiary institutions (are they Nigerian tertiary institutions or those abroad?) to develop entrepreneurship programmes, and to support – through provision of access to finance – graduates and undergraduates with bankable ideas.
How is this whole thing going to be managed so that it does not turn out to be like most projects in Nigeria started with fanfare and goes to sleep after a few months? The CBN and other organizers must understand that these young graduates and undergraduates are not going to do their business outside the shores of this country. Have they taken into consideration the extremely hostile business environment in the country?
The reason for this assertion is what the CBN Governor, Godwin Emefiele said, “With about 600,000 students graduating yearly from Nigerian tertiary institutions, and without commensurate employment opportunities in both private and public sectors, it has become imperative that governments, at all levels, put in place policy measures to support entrepreneurial development among youths.”
Which institutions or corporate organizations in Nigeria had undertaken the training of youths whether graduates or undergraduates in practical entrepreneurships?
Starting a real business that will succeed and bring in profits to pay the interest on the loan and at the same time provide funds that will enable the borrower payback the loan is going to take more than classroom entrepreneurship training.
From what the Governor of the CBN said that “As a first step, CBN wants the authorities of these institutions to provide land from their large estate. By providing lands for students to test their entrepreneurial desires before graduation, CBN noted, the institutions will help the graduates hone up their entrepreneurship spirit.”
My question is; who sponsors the period of testing and honing up skills by the students when they were still in school? How many of their lecturers have real-life business experiences that can be parted into the students?
Let us take for example, some students decide to go into poultry business probably due to past experience from their homes or from interest of what they read from books or watched from videos; who bears the cost of the training?
Will the poultry farms be established in their campuses or are they going to be attached to existing poultry farms in their vicinity to enable them learn the trade properly.
Let it be understood that for anybody no matter whom you are, for you to be able to pay the interest on the loan you have taken from financial institutions, you must do the business profitably. Without making consistent profit you cannot repay the loan.
I believe the first step the CBN is supposed to take is to offer graduates the opportunity to go and understudy experts who have mastered their crafts in various trades and businesses in order to gain the invaluable practical experience. These can be well established businesses and corporations who have made their marks in those trades.
The government should set up monitoring units in all the local government areas to oversee the activities of the young businessmen and women, encourage them and help them solve some teething problems.
Problems facing business people in Nigeria are multifaceted and they are not going to spare the young men and women.
Our company is one of the best companies in agro export businesses in Nigeria, we train individuals and corporate organization on how to do export business in the right way; if you are interested, please contact the admin of this forum.
